The Metaverse Ecosystem Will Grow Bigger
Grayscale Investments, one of the leading institutional investment firms in the cryptocurrency space, published a report on the metaverse ecosystem earlier today. According to Grayscale, the metaverse space will experience massive growth over the coming years.
The metaverse is still emerging, but many key components have started to take shape and are revolutionizing everything from e-commerce to media & entertainment and even real estate. Grayscale said, “Compared to other Web 3.0 and Web 2.0 segments, Metaverse virtual world users are still in their early innings, but if current growth rates remain on their current trajectory, this emerging segment has the potential to become mainstream in the coming years.”
The metaverse space has gained a lot of attention since Facebook announced a month ago that it has rebranded to Meta. The social media giant, which is one of the largest companies in the world, is expanding its presence into the metaverse space and revolutionizing the way people socialize.
The report pointed out that there is no shortage of venture capitalists looking to take advantage of the massive potential within the metaverse space. The researchers pointed out various key dynamics that could massively lead to the growth of the metaverse sector. Some of these dynamics include growing average leisure time and money spent on digital hobbies. Other trends include a cultural shift from premium games to free-to-play gaming and Web 3.0 innovations like play-to-earn.
The metaverse-focused cryptocurrencies such as MANA and SAND have experienced massive gains in recent weeks. SAND has added more than 900% to its value over the past few weeks, while MANA’s price is up by nearly 600% during that period. The metaverse space is expected to record further growth over the coming months and years.